RPRX Stock — Royalty Pharma plc: Cash, EV, Pipeline

What they do

We are the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry. Since our founding in 1996, we have been pioneers in the royalty market, collaborating with innovators from academic institutions, research hospitals and not-for-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies.

Source: 10-K FY2025 via SEC EDGAR

Share price

$67.30

Market cap

$38,603.6M

Cash

$894.9M

Enterprise value

$46,296.2M

Balance sheet

Cash	$894.9M
Debt	$8,587.5M
Net cash	-$7,692.6M
Enterprise value	$46,296.2M
Basic shares	445.3M shares
Fully diluted shares	575.0M shares
Fully diluted market cap	$38,697.6M
Cash per share	$2.01
Quarterly burn	+$728.5M generated

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

445.3M

Pre-funded warrants

0.0M

Options

0.0M

RSUs

0.0M

Warrants

0.0M

Converts

0.0M

Conv preferred

129.7M

ESPP reserve

0.0M

FDSO

575.0M

Cap table as of 2026-06-30.

Price history

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Upcoming catalysts

No upcoming catalysts on file for this company.

Full readout calendar →

Pipeline assets

Litifilimab

Phase 3 · Active Modality: humanized IgG1 monoclonal antibody

Target BDCA2

Partnerships Biogen: sponsor/developer (Royalty Pharma funding arrangement)

Indications

lupus (Phase 3)

Catalysts

— fourth quarter of 2026

Status note Royalty Pharma funding/royalty interest; humanized IgG1 monoclonal antibody targeting BDCA2. Variable quarterly payments commenced Q2 2026.

Olpasiran

Phase 3 · Active Modality: siRNA

Target lipoprotein(a)

Partnerships Amgen: sponsor/developer (Royalty Pharma funding arrangement)

Indications

elevated lipoprotein(a) (Phase 3)

Catalysts

— 2027

Status note Royalty Pharma funding/royalty interest; small interfering RNA for elevated Lp(a).

Omecamtiv mecarbil

Phase 3 · Active Modality: small molecule

Target cardiac myosin

Partnerships Cytokinetics: sponsor/developer (Royalty Pharma expanded funding collaboration, $100M for Phase 3)

Indications

heart failure with severely reduced ejection fraction (Phase 3)

Catalysts

— 2027

Status note Royalty Pharma funding/royalty interest; cardiac myosin activator.

Pelacarsen

Phase 3 · Active Modality: antisense oligonucleotide

Target lipoprotein(a)

Partnerships Novartis: sponsor/developer (Royalty Pharma funding arrangement)

Indications

elevated lipoprotein(a) (Phase 3)

Catalysts

— second half of 2026

Status note Royalty Pharma funding/royalty interest; antisense oligonucleotide for elevated Lp(a).

Seltorexant

Phase 3 · Active Modality: small molecule

Target orexin 2 receptor

Partnerships Johnson & Johnson: sponsor/developer (Royalty Pharma funding arrangement)

Indications

major depressive disorder with insomnia symptoms (Phase 3)

Catalysts

— 2027

Status note Royalty Pharma funding/royalty interest; selective orexin 2 receptor antagonist.

Frexalimab

Phase 3 · Active Modality: monoclonal antibody

Target CD40 ligand

Partnerships Sanofi: sponsor/developer (Royalty Pharma funding arrangement)

Indications

multiple sclerosis (Phase 3)

Catalysts

— 2027

Status note Royalty Pharma funding/royalty interest; anti-CD40 ligand monoclonal antibody.

Regulatory filing stage interests

Phase 3 · Active

Partnerships Nuvalent (neladalkib), Zenas BioPharma (obexelimab), Novartis (pelabresib), Emalex Neuroscience (ecopipam)

Indications

ALK mutation-positive non-small cell lung cancer (Phase 3)
IgG4-related disease (Phase 3)
myelofibrosis (Phase 3)
Tourette's syndrome (Phase 3)

Catalysts

— first half of 2026
— second quarter of 2026
— 2026
— 2026

Status note Royalty Pharma funding/royalty interests at or approaching regulatory filing: neladalkib (next-generation ALK TKI, FDA filing H1 2026), obexelimab (bifunctional CD19/FcγRIIb antibody, FDA filing Q2 2026), pelabresib (BET inhibitor, EMA filing 2026), ecopipam (oral dopamine-1 antagonist, FDA filing 2026).

TEV-'749

Phase 3 · Active Modality: long-acting subcutaneous injection

Partnerships Teva: sponsor/developer (Royalty Pharma funding arrangement)

Indications

schizophrenia (Phase 3)

Catalysts

— second half of 2026

Status note Royalty Pharma funding/royalty interest; long-acting subcutaneous injection of olanzapine; FDA approval expected H2 2026.

Tividenofusp alfa

Phase 3 · Active

Partnerships Denali: sponsor/developer (Royalty Pharma funding arrangement)

Indications

not disclosed (Phase 3)

Catalysts

— April 5, 2026

Status note Royalty Pharma funding/royalty interest in this Denali program; PDUFA date April 5, 2026.

TEV-'408

Phase 2 · Active Modality: monoclonal antibody

Target IL-15

Partnerships Teva: R&D funding agreement (Q1 2026; up to $500M — co-fund Phase 2b vitiligo up to $75M, option for up to $425M Phase 3)

Indications

vitiligo and other autoimmune conditions (Phase 2)

Status note Royalty Pharma R&D funding interest; anti-IL-15 antibody. Co-funding a Phase 2b study in vitiligo.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	12,500	+7,500	0.03%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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RPRX — Royalty Pharma plc ☆

What they do

Balance sheet

Share structure

Price history

Upcoming catalysts

Pipeline assets

Specialist fund holders

Latest news

RPRX — Royalty Pharma plc